Investor Presentation November 2024 Disclaimer This presentation may contain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements generally relate to future events or our future financial or operating performance and often contain words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "outlook," "project," "estimate," "expect," "future," "likely," "may," "should," "continue," "will" and si ...

Group 1: BILL Holdings, Inc - JP Morgan analyst Tien-tsin Huang hosted 17 payments and processing firms at the Global TMC Conference in Boston, maintaining an Overweight rating on BILL Holdings with a price target of $55 [1] - BILL is recognized as a category killer in SMB AP Automation, effectively displacing manual and legacy solutions, including paper check processing [1] - Huang sees potential for BILL to reclaim its status as a top growth name through cross-selling recent acquisitions, leveraging partnerships with banks and accountants, and helping SMBs reduce costs via automation [2] - Projected fourth-quarter revenue for BILL is $376 million with an adjusted EPS of $0.41 [2] - As of the last check, BILL's stock is down 0.41% at $46.07 [5] Group 2: Fiserv, Inc - Huang maintains an Overweight rating on Fiserv with a price target of $210, slightly down from $211 [2] - Fiserv is viewed as a dependable growth story, with mid-teens EPS growth driven by double-digit top-line growth, operating leverage, and capital deployment [3] - The company has a solid portfolio, including its Clover product, which is gaining market share and growing faster than peers [3] - Projected second-quarter revenue for Fiserv is $5.19 billion with an adjusted EPS of $2.39 [3] Group 3: Marqeta, Inc - Huang upgraded Marqeta's rating to Overweight from Neutral, with a price target of $6, up from $5 [4] - Marqeta's platform supports card programs in high-growth areas of fintech, including BNPL and digital banking, with notable clients like Block and Affirm [4] - Projected second-quarter revenue for Marqeta is $140 million with an adjusted EPS of $(0.05) [4] Group 4: Remitly Global, Inc - Huang has an Overweight rating on Remitly with a price target of $25, viewing it as a mission-driven disruptor in the remittance market [5] - Remitly is experiencing durable growth with a 34% year-to-date revenue increase and 4% market penetration [5] - Projected revenue CAGR for Remitly through 2027 is 21%, one of the highest in Huang's coverage [5] - Projected second-quarter revenue for Remitly is $385 million with an adjusted EPS of $0.19 [5]